As the nation ages, more and more elderly people are looking to long-term care facilities to assist them with the necessities of daily living.
Smaller family sizes and more women working outside the home have decreased the traditional pool of family caregivers, leaving the elderly more dependent on professionals.
This year, an estimated 2.1 million Americans will reside in either an assisted living or nursing home. This number is expected to increase as the percentage of Americans age 65 and older grows from 12 percent in 2000 to a projected 20 percent in 2050.
If you or a loved one think you may need a long-term care facility in the future, how do you choose the one that is right for you?
First, talk to people you know who have experience with nursing homes in your area. These may be friends, relatives, neighbors or your physician. These insights can give you a more complete story of what a nursing home is like instead of brochures or websites.
Once you have narrowed your search, compare the nursing homes on your list. Check their ratings with the health department. Ask for a copy of the last complaint investigation report and fire inspection report and whether they are Medicare/Medicaid certified or licensed.
You may also find information about nursing homes at www.medicare.gov/nursinghomecompare/search.html.
Third, you will want to consider your specific needs and preferences. Some things to consider include: rules and regulations concerning pets, visitors, security and privacy; options for participating in social, recreational, religious and cultural activities; access to medical, dental and mental health care as well as dietary options.
Finally, you will want to determine how you will pay for the long-term care facility.
Long-term care facilities in Savannah, on average, cost anywhere from $48,600 for an assisted living facility to $70,810 for a private room in a nursing home, according to the 2015 Genworth Cost of Care Study.
Failing to plan for these expenses can easily wipe out your life savings. Medicare generally does not pay for assisted living facilities or nursing homes. Long-term care insurance is one option, but you may also qualify for other forms of government assistance that can help you pay for long-term care.
A qualified elder law attorney can work with you to determine if you are eligible for Medicaid or Veterans Aid and Attendance benefits. By getting to know you, your family, your goals and your concerns, your attorney can develop a plan specific to your situation.
Your attorney can conduct a thorough analysis of your current medical needs, sources of income, insurance policies and other assets available to cover future costs of living and costs of care. Income and assets have a significant effect not only on your family’s ability to cover costs of care and other expenses but also on eligibility for key government benefits.
If, based on all the information gathered and reviewed, you are or could be eligible for benefits to help cover the cost of care, your elder law attorney can use that information to tailor your plan.
Whether you qualify for government assistance or not, speaking to a qualified attorney will give you peace of mind. You’ll feel much better knowing that you have left no stone unturned in putting together the best plan for yourself or your loved one and that you will have the care you need now and in the future.
Michael Smith and Richard Barid are co-founders of Savannah-based Smith Barid LLC, which specializes in estate planning and special needs planning. They can be reached at 912-352-3999 or richard@smithbarid.com or msmith@smithbarid.com.